Russell Scanlan Ltd’s Post

👩💻 The global insurance market is witnessing rapid growth in the #cyberinsurance sub-sector, with companies of various sizes continually now opting to include cyber coverage in their insurance portfolios, as the overarching risk of cyber grows. While having insurance is crucial for mitigating the financial impact of a #cyberattack, it remains equally essential to incorporate best digital practices in your workplace to prevent such attacks from occurring in the first place. 📉 Ensuring a clean claims history and implementing these strategies in your business operations can contribute to keeping your premium as low as possible. Discover our 5 top tips for helping to prevent cyber attacks in our latest article ⬇

A few weeks ago the global IT outage that affected 8.5m computers around the world caused widespread disruption to businesses, healthcare systems, transport and individuals. This incident occurred when security company Crowdstrike sent out a corrupted software update to its huge number of customers. Although it has since been confirmed by Crowdstrike’s CEO this was not a cyber attack, the scale and impact of the outage has only further raised awareness of the damage that could arise in the wake of a real cyber attack. Cyber insurance is becoming an increasingly important consideration for businesses of all sizes, however in recent years insurers have become more cautious about underwriting cyber insurance policies as they try to minimise their exposure to risk and creating a ‘hard market’ for cyber insurance. This can make it more challenging for many businesses to secure coverage, but there are steps they can take to present a more favourable risk profile to insurers. Find out more about how to obtain the best cyber insurance terms in our latest article: https://lnkd.in/e-pAnmdX #cyber #cyberinsurance #cybersecurity #Crowdstrike #insights #TysersBrokers

Cyber insurance assists businesses in reducing risks associated with cyberattacks and data breaches by providing coverage for losses resulting from incidents such as data breaches and cyber extortion. To avoid falling victim to attacks, refrain from clicking on ads and be cautious of phone calls. For more preventive measures, refer to the additional recommendations in the blog. https://loom.ly/UmPGwe0 #preventivemeasures #cyberinsurance #reducingrisks #businesses

Interesting new trends are being seen in the Cyber Insurance Landscape with respect to extortion. New case studies are suggesting that once again threat actors are showing increased sophistication, staying undetected in networks for extended periods of time and now threatening to reveal private or embarrassing information about an employee unless the employee provides their login credentials and access to their network. Can you trust your employee's to not give up this information if they are faced with this decision? At Gallagher we offer a depth of cyber knowledge, and cyber insurance solutions that will better protect your balance sheet from a cyber event. Feel free to contact me directly to discuss transferring this risk to a comprehensive standalone cyber policy. #gallagher #insurance #cyberinsurance #riskmanagement #risktransfer #cybercrime #cybersecurity

🔒 Cybersecurity in Insurance: Stay Ahead of the Game! 🔒 In our digital age, insurance professionals MUST understand the urgency of keeping up with cyber threats & security protocols. Cyberattacks are evolving rapidly, making vigilance crucial to protect sensitive data. Here's why staying informed is key: ✅ Safeguarding Client Information: Protecting client data is non-negotiable. By staying current on cyber threats, professionals can proactively defend against potential breaches. ✅ Reputation Management: A single cyber incident can tarnish an insurer's reputation and erode trust. Being well-informed allows professionals to mitigate risks and maintain credibility. ✅ Regulatory Compliance: The regulatory landscape is continually evolving. By staying updated on security protocols, insurance professionals can ensure compliance with industry standards and regulations. Let's keep our knowledge up to date and our defenses strong!💪💻 Connect with me for more insights on cyber security insurance at www.arthur.co.uk 🌐 #Cybersecurity #Insurance #StayInformed

Member News | Gallagher Insurance   Worried about cyber threats? Brett Down from Gallagher sheds light on the surge in cyber-attacks, driving up demand for cyber insurance. Learn how to fortify your business! Add an extra layer of defense with Two-Factor Authentication! It significantly boosts data security by requiring two forms of identification, like a text code or authenticator. The Privacy Commissioner recommends it for all organizations handling personal info. It's not just best practice; it's a must! Gallagher's Claire Haszard emphasizes its importance: "It shows a commitment to data protection, builds trust, and meets regulatory requirements."   Read article - https://lnkd.in/g8Q_cTBy   🛡️ Need tailored cyber insurance? Contact - Gallagher Insurance https://www.ajg.co.nz/ #CyberSecurity #TwoFactorAuthentication #BusinessProtection

The risk of a cyber attack has become a reality for just about every organization, including insurers. With a recent shutdown at American Family Insurance due to suspicious network activity showing how close to home the threat can be, cybersecurity is a major concern that is not going away any time soon. Read Digital Insurance's roundup to find out more about how the industry is managing the universal need for cybersecurity.

Insurance industry! 🤯 💳 We have some important updates to share. A massive data breach has recently rocked the scene, compromising around 1.9 million credit card details. The notorious hacking forum, BidenCash, is at the center of this cyber incident. This leak poses a serious threat to potentially millions of individuals, exposing them to the dangers of unauthorized transactions and identity theft. As an insurance company, it's crucial to remain vigilant against potential fraudulent activities. But fear not! We have just the solution to protect your customers and safeguard their sensitive information. By utilizing SOCRadar® Extended Threat Intelligence XTI's Dark & Deep Web Monitoring capabilities, you can proactively identify and address potential risks. Track the latest data exposures and other incidents on threat actor channels through the Dark Web News feature. Stay one step ahead and protect your sensitive information from falling into the wrong hands. Let's join forces and leverage the power of Socradar to enhance your cybersecurity measures and ensure the utmost protection for your insurance business and customers. Contact us today to learn more about our solution. #InsuranceIndustry #DataSecurity #Cybersecurity #FraudPrevention #SOCRadarSolution #DarkWebMonitoring #StayVigilant

Please read the below post to understand why Cyber Insurance is so important and how a cyber attack can damage your business.

Did you know that only a mere 55% of organizations have ANY form of cyber insurance in place? 😱 This might come as a bit of a shock, especially considering that cyber insurance is VITAL for small businesses in today's digital landscape -- and here's why: Cyber insurance serves as a crucial safety net against the rising threats of cyberattacks. With the increase in sophisticated hacking tactics and data breaches, small businesses are increasingly vulnerable to financial losses and damage of reputation. Thankfully, cyber insurance can provide essential coverage for expenses related to data breaches, including forensic investigations, customer notification, and credit monitoring services. Additionally, it offers protection against legal fees and regulatory fines that can arise from failing to comply with data protection laws. For small businesses with limited resources and IT infrastructure, cyber insurance acts as a lifeline, ensuring they can recover quickly and keep operations running in the face of cyber threats. #PCAKnowsIT #YourITCoach #cyberinsurance #cybersecurity